FY2024 EPS Forecast for Cardinal Energy Reduced by Analyst

Cardinal Energy Ltd. (TSE:CJ) – Equities researchers at Atb Cap Markets reduced their FY2024 earnings per share estimates for shares of Cardinal Energy in a note issued to investors on Friday, November 8th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.68 for the year, down from their previous forecast of $0.78. The consensus estimate for Cardinal Energy’s current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Cardinal Energy’s Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.31 EPS.

Several other brokerages also recently commented on CJ. CIBC lowered their price objective on shares of Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday. Royal Bank of Canada reduced their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th. Finally, BMO Capital Markets reduced their target price on Cardinal Energy from C$7.50 to C$7.00 in a report on Friday, October 4th.

Cardinal Energy Stock Performance

TSE:CJ opened at C$6.23 on Monday. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73. Cardinal Energy has a fifty-two week low of C$5.75 and a fifty-two week high of C$7.38. The business has a 50 day moving average price of C$6.48 and a 200-day moving average price of C$6.73. The firm has a market cap of C$991.69 million, a PE ratio of 8.53, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81.

Insider Buying and Selling at Cardinal Energy

In other news, Director John Festival bought 50,050 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of C$6.20 per share, for a total transaction of C$310,310.00. In other Cardinal Energy news, Director John Festival purchased 50,050 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of C$6.20 per share, with a total value of C$310,310.00. Also, Director John Albert Brussa bought 6,400 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was acquired at an average cost of C$6.40 per share, with a total value of C$40,960.00. 23.38% of the stock is owned by company insiders.

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.56%. Cardinal Energy’s dividend payout ratio is currently 98.63%.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.